FStech - AI in financial services: trends, strategies and challenges

AI in financial services: trends, strategies and challenges

The use of artificial intelligence (AI) and generative AI (genAI) is growing within financial services institutions (FSIs) and the technology is becoming increasingly sophisticated, taking on ever more complicated tasks.

There are many applications of AI in the financial services industry such as helping to prevent financial crime by flagging suspicious activity and improving lending decisions through more advanced modelling. Additionally, AI has the ability to automate routine tasks such as data entry, contributing to more streamlined back-office processes.

Red Hat and FStech surveyed leaders in the financial services industry including international banks, insurance brokers, asset management companies and payment services firms to examine how far FSIs are into their AI adoption journey. Read the report to find out where they have found success or are facing hurdles to implement the technology.

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